Sika AG Q1 Organic Growth In Sales At 17.6%; Confirms FY22 Outlook

Sika AG (SXYAY.PK,SKFOF.PK) said, in the first quarter of 2022, the company significantly increased sales, posting a new record of 2.40 billion Swiss francs, an increase of 21.9% in local currencies compared to the previous year. Organic growth in the first quarter was 17.6%.

For fiscal 2022, Sika expects sales to rise by well over 10% in local currencies, and is projecting an over-proportional increase in EBIT.

Sika confirmed its 2023 strategic targets. The company is seeking to grow by 6%-8% a year in local currencies up to 2023. From 2021 onwards, the company is aiming to achieve an EBIT margin in the range of 15%-18%.

The company noted that the closing of the acquisition of MBCC Group remains targeted for the second half of 2022.

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